KUALA LUMPUR: Seacera Group Bhd (SGB) has entered into a supply agreement with Vizione Builders Sdn Bhd (VBSB) to provide building materials up to an aggregate value of RM300 million over three years.
Under the supply agreement, VBSB will place orders with SGB for quantities of the building materials that are required based on the prevailing market price.
Meanwhile, SGB would have to ensure the delivery of building materials is done within 14 working days.
In a statement, SGB said the supply agreement is a sign of trust that customers have with the company given its track record to deliver the building materials required.
"We're positive that this agreement would help in the Group's process to turnaround," the company said.
SGB would also be paid with a deposit of RM5 million within 14 working days from the date of the supply agreement.
The group has recently saw a turnaround as it managed to record a net profit of RM272,000 during the first half (1H) of its financial year ending 30 June 2021 (FY21) as compared to a net loss of RM5.9 million in the 1H FY20.
This is in line with the increase of 175 per cent in revenue to RM2.8 million in 1H FY21 from RM1.0 million in FY20.